DOW SILICONES UK LIMITED

Trend Analysis

The average time to pay for DOW SILICONES UK LIMITED has fluctuated over the last three periods, with an overall increasing trend. In the first period, the average time to pay was 48 days, which decreased to 44 days in the second period but then increased to 55 days in the third period. The most recent period (2021-2023) shows a slight decrease to 64-65 days, but the overall trend is still increasing.

Volatility Analysis

The volatility of DOW SILICONES UK LIMITED's payment patterns can be seen in the fluctuation of the percentages of invoices paid within 30 days, between 31-60 days, and later than 60 days. In the first period, there was a 1% decrease in invoices paid within 30 days compared to the previous period, but a 12% increase in invoices paid later than 60 days. In the third period, there was a 19% decrease in invoices paid within 30 days and a 21% increase in invoices paid later than 60 days compared to the previous period. This shows a high level of volatility in the payment patterns of DOW SILICONES UK LIMITED.

Summary Analysis

Over the last three periods, DOW SILICONES UK LIMITED has shown an increasing trend in the average time to pay, with an overall increase of 17 days. The percentage of invoices paid within 30 days has also decreased by 29%, while the percentage of invoices paid later than 60 days has increased by 40%. The worst period for DOW SILICONES UK LIMITED was in the third period (2019-2020) where 52% of invoices were paid later than 60 days, the highest percentage among all periods. The company has also shown a high level of volatility in its payment patterns, with significant fluctuations in the percentages of invoices paid within 30 days and later than 60 days. Additional notes: In the last three periods, DOW SILICONES UK LIMITED has consistently had the shortest (or only) standard payment period of 30 days, but in the last two periods, there has been a slight increase in the percentage of invoices paid within 30 days. However, the company still has room for improvement in terms of paying invoices within the agreed terms, with a consistent percentage of 5-8% of invoices not paid within the agreed terms in the last three periods.

Payment Terms

Dispute Resolution Process

A supplier invoice can be received either in paper or PDF format. The paper invoice will be barcoded and scanned, the PDF invoice will be uploaded into the ERP system. Invoices with a purchase order. A first pass attempt to post the invoice in the financial book of records will be executed, whereby the invoice amounts and quantities will be matched versus the purchase order. In case of discrepancies, an internal follow up will be performed with the purchase requisitioner or goods receiver for the quantity part and/or with the buyer for unit price deviations. If the discrepancy cannot be solved and are rejected by the internal partners, the invoice will be rejected and sent back to supplier with the request to issue a corrective invoice or (partial) credit note. If the discrepancy has been reviewed and proper follow up is provided to solve it, the invoice will be posted. This financial posting may be subject to an additional internal audit which will block the entry. Once the audit is performed, the block will be released and the invoice is ready for payment. Invoice without a purchase order. The invoice should at least indicate a reference or a contact person which should enable the request to review the invoice on correctness. If no reference is available, the invoice will rejected and sent back to the supplier with request to provide proper reference or contact details. If a reference or contact is available, an internal follow up will be performed to have the invoice reviewed on correctness and to acquire authorization for payment. Based on the authorization, the invoice will be posted. If no authorization can be obtained, the invoice will be rejected and sent back to supplier with the request to issue a corrective invoice or (partial) credit note. This financial posting may be subject to an additional internal audit which will block the entry. Once the audit is performed, the block will be released and the invoice is ready for payment. The payment due date of the invoice is calculated based on the agreed upon payment terms. Once the due date is reached, the invoice will be selected for payment.

Other Payment Information